FTSE bounces into positive territory as oil price plummets - London Report

THE FTSE bounced back yesterday from the previous day’s fall, with holiday cruise company Carnival and retailer Dixons Carphone among the top performers.

The blue chip index closed up 0.4 per cent at 6,635.45 points, continuing its recovery from 15-month lows in October and marking its highest level in around one-and-a-half months.

Carnival rose 2.8 per cent to 2,606.p, the best-performing FTSE stock in percentage terms, while British Airways operator International Consolidated Airlines Group also advanced two per cent to 420p as it benefited from a new fall in the price of oil.

Brent crude fell to a four-year low yesterday to below $79 a barrel.

However, this was negative for oil producers, with Tullow Oil declining by 5.8 per cent to close at 464p.

Dixons Carphone was the best-performing FTSE stock in percentage terms, rising 2.3 per cent to 413.50p, which traders attributed to expectations it could do well during the Christmas season.

Related articles